For a bank, a foreclosure is simply a last resort to cut their losses. Kentucky Legal Aid is the only free, civil legal services provider in South-Western Kentucky Bankruptcy Lawyer Kentucky. Since 1977 we have specialized in providing top-tier legal assistance to people living in poverty, the disabled, and senior citizens. Many Kentucky mortgages have a provision that requires the lender to send a breach letter if you fall behind in payments. If you don’t cure the default, the lender can accelerate the loan (call it due) and go ahead with the foreclosure.

 

What Happens If You Miss A Mortgage Payment

 

The automatic stay prohibits the bank from foreclosing on your home. Therefore, foreclosure must be halted during the bankruptcy process. Your home has a lot of value, both financial and sentimental. The prospect of losing your home due to insurmountable debt can be devastating.

 

At Hirsch Law, we can help homeowners keep their homes through bankruptcy, loan modifications, short sales, or a deed in lieu of foreclosure. The thought of losing your permanent residence can be emotionally draining. You may have thought it would never happen to you – foreclosure. Yet, you are now faced with this real possibility, and are looking for ways to avoid having your house taken away from you. If you’re wondering if you can stop a foreclosure in Louisville, Kentucky, the answer is “yes.” Filing for bankruptcy is one of many viable options to save your home. Under Kentucky law, the new owner from the foreclosure sale gets the right to possess the property after giving you a 10 days’ notice in writing.

 

Facing Foreclosure?

 

NASHVILLE – Working with the Nashville Bar Association, our attorneys helped with the escalating problems of people who had recently lost their jobs. Focused on providing assistance with unemployment appeals, the attorneys helped individuals receive unemployment benefits after their applications had been contested by their former employers. In all, more than 70 appeals were resolved, earning Lauren Paxton Roberts, who headed the effort, recognition by the Legal Aid Society of Middle Tennessee and the Cumberlands. By community, here are examples of ways Stites & Harbison attorneys and staff have made a difference in their hometowns.

 

Foreclosure is a judicial procedure allowing mortgage lenders to take ownership and/or possession of the debtor’s real estate (which was used to secure the loan) in the event of nonpayment in Louisville, Ohio. When a house is foreclosed, it is usually sold at auction shortly thereafter. This is because banks usually want to get rid of the property as soon as possible, even if it means losing some money, and an auction is an simple way to do this. Since 1991, I have practiced bankruptcy law and foreclosure defense in Louisville, Ky handling over 7,000 Chapter 7 and Chapter 13 cases and over 1,000 foreclosures.

 

Over 40 Years Of Bankruptcy Experience

 

However, you must take a bankruptcy means test to see if you qualify. Speak with a Louisville bankruptcy lawyer to learn more about your options. As we mentioned earlier, bankruptcy is a valid solution for preventing lenders from foreclosing on your home. When you file for bankruptcy, this stops the foreclosure process in its tracks. You have the benefits of the automatic stay, which prevents your creditors from harassing you, from attempting collections, and from foreclosing on your home.

 

Over 99% of our Chapter 7 clients complete their Chapter 7 and obtain financial freedom and discharge. The average law firm will have 30 to 40 percent of their Chapter 13 cases fail and become dismissed. At Winton & Hiestand Law Group, PLLC we are your dedicated consumer protection attorney in Louisville, KY, committed to defending the rights of consumers. Our extensive experience makes us the premier choice for resolving matters such as debt collection violations, fair credit reporting, mortgage foreclosure defense, motor vehicle repossession, and much more. Deatrick & Spies, P.S.C. is a respected law firm, operating since 1994.

 

Take special note of the time-frame in which you can resolve the situation before the foreclosure auction takes place at the end. Short Sales and Loan modifications are possible all along the way. When you retain the services of Deatrick & Spies, P.S.C., you can be assured that your attorney is fully qualified to take on your case. Behind the talk of hearth and home exists a very real sentiment and attachment to your home. Now you find yourself facing the very real possibility of losing your home.

 

If you are still in the house after 10 days, the new owner can get a writ of possession from the court and the sheriff can set you and your things out of the house. A Chapter 13 bankruptcy can allow you to catch up on your mortgage over a three-to five-year period while you make your regular monthly mortgage payments. Either a Chapter 13 bankruptcy or a Chapter 7 bankruptcy can help you get rid of lower-priority debts so that you can focus on your mortgage and other essential bills. The court will enter a judgement of foreclosure, say how much you as the homeowner owe the lender and give you a short time to pay the full amount. If you don’t pay within that time, the property will be sold by an officer of the court.

 

He is AV Preeminent® Peer Review Rated™ by Martindale-Hubbell® and listed in The Best Lawyers in America® for his many legal accomplishments. Contact your lender or servicer as soon as you realize that you have a problem. The mortgage holder, noteholder and servicer can all be the same company or all different companies. When you sign your mortgage, you also sign a document called a note.

 

Our Bankruptcy Attorney, Tracy L. Hirsch, has 23 years of experience, and has filed over 2,000 cases. Her attention to detail and extensive knowledge of local bankruptcy rules, means that things are done correctly the first time. With MDK, you’re working with a firm that serves clients better than expected and beyond the ordinary. We create uncommon paths to success for our clients and ourselves.